Prudential Financial, Inc. (NYSE:PRU) – Equities researchers at Langen Mcalenn raised their Q3 2017 EPS estimates for shares of Prudential Financial in a research note issued to investors on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will earn $2.72 per share for the quarter, up from their prior forecast of $2.71.
Other analysts have also issued research reports about the stock. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $113.00 price target on shares of Prudential Financial in a research report on Tuesday, June 27th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $114.30.
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Prudential Financial (NYSE:PRU) opened at 109.35 on Wednesday. The company has a 50-day moving average of $104.52 and a 200-day moving average of $106.66. The firm has a market capitalization of $46.69 billion, a price-to-earnings ratio of 12.21 and a beta of 1.51. Prudential Financial has a 1-year low of $82.45 and a 1-year high of $115.26.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The business had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the company earned $1.84 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.75 per share. The ex-dividend date was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.74%. Prudential Financial’s payout ratio is 33.63%.
In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total transaction of $463,639.94. Following the sale, the insider now directly owns 10,924 shares in the company, valued at $1,225,454.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the sale, the insider now owns 21,274 shares in the company, valued at $2,340,140. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Guardian Life Insurance Co. of America grew its stake in Prudential Financial by 0.3% during the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after buying an additional 5 shares in the last quarter. Green Square Capital LLC lifted its holdings in shares of Prudential Financial by 0.3% in the second quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 7 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in shares of Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 8 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Prudential Financial by 0.9% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 18 shares during the last quarter. Finally, Trust Co lifted its holdings in shares of Prudential Financial by 1.0% in the first quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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